R.I.P.

Reader's Digest is filing for bankruptcy!

Posted: Aug 17, 2009 at 3:44 pm / Email this »

33 comments to “R.I.P.”

thetreehugger says – reply to this

1

SRSLY?! That's so weird, I grew up reading reader's digest.. I feel like I've lost a friend lol
Eris says – reply to this

2

Pity; it had some interesting articles.
heather1681 says – reply to this

3

NOOOO!
Anniegirl says – reply to this

4

My grandma read this little magazine. Kind of sad, it was always an older persons thing. We used to make Christmas Tree Angels out of them. You would fold them, paint them, put angel head and wings on them. ha ha it was fun.
BobFromBoston says – reply to this

5

Actually, it's Chapter 11 reorg, so it's not dead yet (that would be Chapter 7 AKA liquidation).

Also, it only applies to US holdings, not the other 43 countries they do business in.
b a t k i s s says – reply to this

6

Sounds like the partnership with Rick Warren's Purpose Driven Connection did not save their souls. GOOD!

(The Purpose Driven Connection is a website for Christian social networking which includes magazine articles, study guides, and videos of sermons, testimonials and devotions.)
chrisjman says – reply to this

7

People don't hardly read anymore. Maybe they could Tweet their future issues?
SOMETHING SMELLS says – reply to this

8

ADIOS
Randaleese says – reply to this

9

Crap! I guess this means I dont need to be looking for them with balloons and a big fat check at my door anytime soon, huh?
Head Banger says – reply to this

10

R.I.P….

BREAKING NEW…

“Perez Hilton or as he is more commonly known “FatAss" has been rushed to Cedar Sinai hospital where he has been pronounced DOA. His family and friend wish that in lieu of flowers or cards, that you send a large bag of shit and a pack of matches”

Oh, How I wish!
JigSaw says – reply to this

11

now i have to find something else to start fires with
nadanada says – reply to this

12

Right wing corporate rag- good riddance.
JigSaw says – reply to this

13

Re: Head Banger – just one bag? no gas? hmmmm
Aussieone says – reply to this

14

I hope it goes under since it changed into a republican voice box spitting out republican talking points!
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"01 01 09 After years of trying to broaden the appeal of Reader’s Digest, the publishers are pushing it in a decidedly conservative direction. It is cutting down on celebrity profiles and ramping up on inspiring spiritual stories. Out are generic how-to magazine features; in are articles about military life.
“It’s traditional, conservative values: I love my family, I love my community, I love my church,” said Mary Berner, the president and chief executive of Reader’s Digest Association."

Guess that didnt work so well! LET IT GO UNDER!
skeezer says – reply to this

15

WTF????
…….noooo……next you are gonna tell me Matlock and Murder She Wrote are no longer going to be rerun on TVland.
I cant stand them says – reply to this

16

I also grew up reading Reader's digest in spanish… In my house we even kept some mags for years!!!
buck says – reply to this

17

Re: Aussieone – it changed into a republican voice box spitting out republican talking points! It’s traditional, conservative values: I love my family, I love my community, I love my church,” said Mary Berner, the president and chief executive of Reader’s Digest Association."

You're right!! horrible, horrible views….get rid of the magazine now!! i can't believe they would even publish garbage like that in the first place!!! yuck!!!
Paris France says – reply to this

18

My parents and lots of relatives used to read this. I loved learning new words and what they meant. Will miss this.
b a t k i s s says – reply to this

19

Re: buck – Re: Aussieone – Berner admits that the move to a more conservative base is purely a financial one for the magazine.
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Says Ms. Berner about the change in focus, “As far as I’m concerned, I don’t care what the religion is, what the spirituality is, as long as it’s legitimate, there’s a built-in community and it’s global.”
Starbella says – reply to this

20

i love readers digest. i always wanted to subscrive to it along with national geographic to look more "in the know"
lolita_cat says – reply to this

21

Noooooooooooooooooooooooooooooooooooooo!!!!
LoveChrisPine says – reply to this

22

Wow, shocking!
HelloPeople says – reply to this

23

for bankruptcy protection you fool big different perez
SWEETPIECE! says – reply to this

24

Re: BobFromBoston – Thanks for that info!
Mamal in Versace Pants says – reply to this

25

With their excellent customer service and superior organizational skills, I AM SHOCKED! SHOCKED, I TELL YOU!
CraigMischief says – reply to this

26

They have been around forever !!!
Very sad, but sign of the times i suppose !!
Phew!!! says – reply to this

27

I do not care- it was always a pensioners magazine.Twee beyond words.
kittychats says – reply to this

28

Does that mean my, "You May Be A Winner," junkmail now means that I am NOT A WINNER?
:S
Sadie6 says – reply to this

29

So Sad!
VampireLover21 says – reply to this

30

Nooo that sucks they had some good stories!
Oma says – reply to this

31

How awful. I love that magazine.
b a t k i s s says – reply to this

32

During the Chapter 11 process, CEO Berner will be paid $125,000 per month in base salary.
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Multiplied out over 12 months, Berner’s new agreement would put her annual salary at $1.5 million. According to RDA’s last 10-K report, Berner in fiscal 2008 was earning a base salary of $600,000 (and was eligible for an annual guaranteed bonus of $500,000). That doesn’t include performance incentive bonuses that could have been as much as 400 percent of her base salary.
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In case Berner isn’t offered her job back when RDA eventually emerges from bankruptcy protection, the company has agreed to up her severance package to $2.2 million, plus any earned but unpaid salary, vacation pay and/or unreimbursed business expenses.
b a t k i s s says – reply to this

33

Pays to go bankrupt, huh?